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Thursday, 14 April 16
AUSTRALIAN MINING SERVICES SECTOR SQUEEZED BY MINERS' COST CUTS - FITCH RATINGS
 Fitch Ratings says mining services companies' revenues and margins will remain under pressure as miners continue to focus on reducing costs amid lower commodity prices.
Mining companies continue to move operations in-house, renegotiate service contracts to reduce value or scope, extend payment terms and limit further exploration as they seek to minimise costs and restore profitability. This directly impacts the work contracted to mining services companies, either squeezing margins, delaying cash inflows or reducing the pipeline of work available.
The decision last week by Fortescue Metals Group Limited not to renew its contract with Downer EDI Limited, as its moves to an owner-operator model at its Christmas Creek mines, highlights this trend. Fortescue had also reduced the scope of the contract in February 2015. In addition, Rio Tinto Ltd announced last week that it was extending its supplier payment terms to 90 days from 45 days for contracts greater than USD3m, and to 60 days for contracts under this threshold. Other solutions over the past year include Atlas Iron announcing a profit sharing arrangement linked to iron ore prices with its contractors to address the impact of price volatility on its returns.
Fitch expects mining service companies with limited operations outside the resources sector to be more affected by the mining companies' actions because they have fewer opportunities to replace lost revenues. Fitch downgraded Emeco Holding Limited's Issuer Default Rating by two notches to 'B-' in September 2015, which reflected the impact of the prolonged weakness in global commodity markets on its profitability, cash flows and scale. The recent insolvencies of Civil Australia Holdings and WDS Ltd. continue to highlight the increasing challenges smaller mining service companies face in this new environment.
Larger and more diversified engineering firms, such as Downer, are likely to be less affected by the miners' actions. Their exposure to other sectors, including infrastructure and civil sectors, allows them to mitigate any loss of mining services revenue.
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Thursday, 27 October 16
PANAMAX: FIRM ATLANTIC; TOPPISH PACIFIC - FEARNLEYS
Supramax
The trend from last week is passed on. ECSA still strong with Supras from N Brazil to Med fixed at $9,000 to $9,500 daily.
Accordin ...
Wednesday, 26 October 16
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
If the finale of a thriller movie finds the leading actor successfully surviving after all the sacrifices he has made, the audience presumes this t ...
Tuesday, 25 October 16
INDONESIAN COAL PRICES MARCH HIGHER CONTINUES
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
Tuesday, 25 October 16
THINGS ARE SLOWLY STARTING TO IMPROVE AS CORRECTIONS ARE MADE - ALLIED
It seems as though left, right and centre, all we see nowadays is the word “restructuring”.
There is restructuring amongst bankers ...
Monday, 24 October 16
KOMIPO INVITES BIDS FOR 0.78 MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
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- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Planning Commission, India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- White Energy Company Limited
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
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